The first step to becoming an insurance broker in Ontario is to pass the RIBO entry level exam. The exam is offered online and in person. This is an important first step in the insurance industry, and it might take you just over a month to complete. Once you’ve passed the RIBO exam, you can offer home and auto insurance to residents of Ontario.URL: pnclearning.com
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It’s best to take a RIBO license course from a registered school, and if possible choose one that has live instructor support. This way you can ask questions as they arise and get immediate answers. Several insurance institutes offer courses to help you prepare for the RIBO exam, and you might be able to find a class at a local community college or university.
RIBO stands for Registered Insurance Brokers of Ontario and is the self-regulating body that oversees the licensing, professional competence, ethical conduct and insurance related financial obligations of independent general insurance brokers in the province of Ontario. A RIBO licence is the only way to sell property and casualty insurance in the province of Ontario. Brokers are intermediaries that can shop policies from multiple insurance companies and provide independent expert advice to their clients. They can sell a broad range of personal and commercial lines including property, automobile, liability and leisure vehicle coverages. RIBO licensed brokers must be employed and registered with a RIBO registered firm to be eligible to write the examination. If they do not become employed and register within twelve months after passing the examination, they must rewrite the exam.